{"id":265045,"date":"2018-08-15T13:39:34","date_gmt":"2018-08-15T11:39:34","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=265045"},"modified":"2018-08-15T13:39:34","modified_gmt":"2018-08-15T11:39:34","slug":"here-is-the-expected-petrol-price-for-september-2","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/265045\/here-is-the-expected-petrol-price-for-september-2\/","title":{"rendered":"Here is the expected petrol price for September"},"content":{"rendered":"

The latest data published by the Central Energy Fund shows that South African motorists can expect generally flat petrol prices in September, despite recent pressure.<\/p>\n

Daily analysis<\/a> <\/strong>of prices show that as of 14 August, fuel prices are expected to remain largely the same for 93 petrol and both 0.05% and 0.005% sulphur diesel, as South Africa’s currency weakness negates positive movements in global fuel prices.<\/p>\n

Only 95 petrol is currently showing any movement in price, with the CEF pointing to a two cents increase as at the middle of the month.<\/p>\n

Illuminating paraffin, meanwhile, should decrease by six cents per litre.<\/p>\n

Looking at daily movements in the price as tracked by the CEF, it’s clear that the rand’s crash on Monday has had the biggest negative impact on prices so far.<\/p>\n

The local unit was a victim in a market-wide crash among emerging economies, following the US pushing sanctions on Turkey, causing its currency to crash further after a steady decline in 2018.<\/p>\n

The rand lost as much as 10% of its value against the US dollar, before panic in the market abated, and the affected currencies staged mild recoveries.<\/p>\n

The CEF’s data shows that the rand\/dollar exchange rate went from contributing to an over-recovery (thus petrol price reduction) of about one to two cents per litre on Monday (before crash data was factored in), to contributing to an under recovery (thus a petrol price increase) of about the same amount.<\/p>\n

Changes in international product prices has contributed to a slight over-recovery in the price, of around a cent per litre.<\/p>\n

With the rand still not fully recovered from the crash, should things remain at current levels, motorists can expect a flat petrol price in September.<\/p>\n

Oil prices meanwhile, were also under pressure on Wednesday, weighed down by a dim global economic outlook. Brent crude is currently trading at $72 a barrel.<\/p>\n

South Africa has experienced five consecutive months of petrol price hikes, with economists and analysts warning that pressure on oil-producing markets to hike the prices of crude could ultimately push prices higher by month-end.<\/p>\n

The Department of Energy was expected to make an appearance before an Energy Portfolio Committee meeting on the petrol price on Tuesday, but failed to show up.<\/p>\n

Government has come under pressure by opposition parties and civil action groups to intervene in rising fuel prices, but Tuesday’s no-show has been interpreted as the responsible department having no plan of action on the matter.<\/p>\n

Here’s how the prices could look at the pumps in September.<\/p>\n

\n
\n\n\n\n\n\n
Fuel<\/th>\nAugust official<\/th>\nSeptember expected<\/th>\n<\/tr>\n
95 Petrol<\/td>\nR16.03<\/td>\nR16.05<\/td>\n<\/tr>\n
93 Petrol<\/td>\nR15.82<\/td>\nR15.82<\/td>\n<\/tr>\n
0.05% Diesel (wholesale)<\/td>\nR14.41<\/td>\nR14.41<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read: How South Africa\u2019s petrol price compares to the rest of the world<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest data published by the Central Energy Fund shows that South African motorists can expect generally flat petrol prices in September, despite recent pressure.<\/p>\n","protected":false},"author":10,"featured_media":131792,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[26],"class_list":["post-265045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/265045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=265045"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/265045\/revisions"}],"predecessor-version":[{"id":265201,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/265045\/revisions\/265201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/131792"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=265045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=265045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=265045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}